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HONG KONG - HSBC Holdings (NYSE:HSBC) PLC has granted conditional awards for a total of 48,366,306 ordinary shares to directors, employees, and former employees under the HSBC Share Plan 2011, as disclosed in a recent announcement to the Stock Exchange of Hong Kong Limited.
On Monday, the company issued awards to two of its directors, Georges Elhedery and Manveen (Pam) Kaur, with Elhedery receiving 92,447 shares and Kaur 186,052 shares. The closing market price of the ordinary shares on the London Stock Exchange (LON:LSEG) at the time of the grant was GBP 9.163. These shares, part of the annual incentive for the directors, are immediately vested but are subject to a 12-month retention period where the shares cannot be sold.
The broader category of grantees, including employees and former employees, were awarded 48,087,807 shares. These awards are subject to vesting over a three-year period, with portions vesting on the first and second anniversaries of the grant and the remainder on the third anniversary. Some employees may face longer vesting periods of up to seven years, as required by remuneration regulations, and may also be subject to retention periods following vesting.
The company has set performance targets and clawback provisions for these awards in line with regulatory obligations. The Group Operating Committee’s Long Term Incentive plan for 2025-2027, for instance, includes performance conditions related to return on tangible equity, environmental factors, and relative total shareholder return.
The announcement clarifies that no financial assistance will be provided by the company or a subsidiary to the grantees for these awards. Furthermore, the Plan maintains limits on the number of shares that can be issued, with a current availability of 990,119,439 shares under a 10% limit and 255,694,591 shares under a 5% limit of the company’s ordinary share capital.
This grant of awards is part of HSBC’s ongoing strategy to align the interests of its directors and employees with those of its shareholders. The information is based on a press release statement, and it highlights the company’s adherence to regulatory requirements and its commitment to performance-based incentives.
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